Hall v. Rose Hill & Evanston Road Co.

Citations

• 70 Ill. 673

Syllabus

<p>1. Witness—credibility. When a witness testifies that he previously made an affidavit relating to matters in dispute, simply on the information of others, without stating that it was made on information, and it further appears that his memory is defective, or that he is unfair and biased in his testimony, and he is flatly contradicted in some of his most important statements, by other witnesses, the jury will be fully warranted in disregarding his testimony.</p> <p>3. Assignment—of stock of railway company. Certificates of stock in a railuTay company, unlike negotiable paper, can only be assigned by an act of the company, or in pursuance of a by-law.</p> <p>3. Same—issue of new certificate of stock. If the purchaser of stock of a railway company applies to procure a transfer of the same to him, and the directors order the transfer to him, and new certificates to be issued to him, he will become an innocent holder, if he acts in good faith, and the company w'ill be estopped to deny that the stock thus issued is valid.</p> <p>4. Same—issue of new, without taking up old, certificates of stock. If the secretary of a railway company issues new certificates of stock to one claiming to have purchased shares therein, without taking up or cancel-ling the original, the new certificates w'ill be invalid.</p> <p>5. Evidence—certificate of stock, prima facie. The certificate of stock in a railway compan)', issued by its secretary, is prima facie evidence that it was regularly issued, but this presumption may be overcome by other evidence, as, by showing that no order was passed for its issue. If the order was passed, and not entered of record, that may be shown by the holder.</p>